Virgin posts positive Q4 results

Virgin Media has announced its Q4 2011 results, with £48.2 million profit and double the number of customers subscribing to TiVo.

The company’s results show annual net income of £76 million – the first time that Virgin Media has reported full-year profit.

The number of customers taking its connected TV service TiVo more than doubled in the fourth quarter with 273,000 net additions. Overall, the company added 15,000 new net cable customers in Q4.

“Our strategy of focusing on customers who want more from the digital world is paying off,” Neil Berkett, chief executive of Virgin Media, said. “Demand for better broadband also continues to grow fast, with around half of new customers choosing superfast speeds.”

Read the full press release here.